R01 Training and competence: free practice questions

1. Question 1 of 5

   Before an employee can deal with retail clients, even under supervision, what must they have passed?

   Option A: The full Level 4 diploma in regulated financial planningOption B: A Level 6 qualification, such as an advanced diplomaOption C: No exam at all, as long as they're being supervisedOption D: The regulatory module of an appropriate exam, such as R01

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   The answer is D: The regulatory module of an appropriate exam, such as R01

   An employee mustn't deal with retail clients, even under supervision, until they've passed the regulatory module of an appropriate exam (e.g. R01) and have adequate knowledge and skills.

   Why the other options are wrong

   A

   The full qualification can be completed later, within time limits.

   B

   Level 6 isn't the requirement.

   C

   The regulatory module is required even under supervision.

2. Question 2 of 5

   How much CPD must a competent retail investment adviser complete each year?

   Option A: 50 hours, at least 30 of them structuredOption B: 21 hours, at least 15 of them structuredOption C: 15 hours, all structuredOption D: 35 hours, at least 21 of them structured

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   The answer is D: 35 hours, at least 21 of them structured

   Advisers must complete 35 hours of appropriate CPD a year, at least 21 of them structured.

   Why the other options are wrong

   A

   50 hours isn't the requirement.

   B

   21 hours is the structured minimum within the 35, not the total.

   C

   15 hours was the old insurance minimum, removed in December 2025, and was never the adviser figure.

3. Question 3 of 5

   Which of these counts as structured CPD?

   Option A: Reading industry magazines and technical articles at homeOption B: Informal conversations about cases with colleaguesOption C: A webinar designed to achieve a defined learning outcomeOption D: Background research carried out for the adviser's role

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   The answer is C: A webinar designed to achieve a defined learning outcome

   Structured CPD is designed to achieve a defined learning outcome, such as seminars, webinars, courses and suitable e-learning. Reading and research are unstructured.

   Why the other options are wrong

   A

   Reading is unstructured CPD.

   B

   Informal conversations aren't structured CPD.

   D

   Research is unstructured CPD.

4. Question 4 of 5

   Someone starts advising as a trainee after passing the regulatory module. How long do they have to complete the Level 4 investment qualification?

   Option A: 12 monthsOption B: 24 monthsOption C: There's no time limitOption D: 48 months

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   The answer is D: 48 months

   Under TC 2.2A, those in covered roles have 48 months to complete the Level 4 examinations. Firms can set shorter limits or restrict attempts.

   Why the other options are wrong

   A

   Twelve months isn't the FCA limit.

   B

   Twenty-four months isn't the FCA limit.

   C

   There is a 48-month limit once acting in the role.

5. Question 5 of 5

   How should the intensity of supervision change once an adviser is assessed as competent?

   Option A: It should be more intensive before competence than afterOption B: It should increase once the adviser is working aloneOption C: It should be identical for every adviser in the firmOption D: It should stop entirely once competence is confirmed

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   The answer is A: It should be more intensive before competence than after

   Supervision should reflect experience and competence: more intensive before competence than after. The FCA expects more than just file checking.

   Why the other options are wrong

   B

   It's more intensive before competence, not after.

   C

   Supervision should be tailored to each person.

   D

   Supervision continues for all advisers.

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